{
  "id": 5349593,
  "title": "Broker’s Call: UltraTech Cement (Buy)",
  "url": "https://urgent.news/2026/09/03/brokers-call-ultratech-cement-buy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T14:27:48.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/brokers-call-ultratech-cement-buy/article71419218.ece"
  },
  "original_language": "en",
  "account": "UltraTech Cement's recent investment of ₹1,800 crore into the wires and cables segment may seem small compared to the company's overall financials, constituting roughly 2% of its current capital employed. However, this move is seen as strategically beneficial as the company aims to capture a 6-7% share of the domestic wires and cables market by FY30. By achieving full capacity utilization around FY30-31, the business could generate an annual revenue of approximately ₹9,000 crore, resulting in an asset turnover of around 5x. With an estimated EBITDA margin of 10-12%, the asset-level ROCE could reach over 20% at peak utilization. Valuation suggests the investment could generate shareholder returns of about 8%, making the project value-accretive. Using an EV/CE-based methodology, the stock is valued at a 3.8x FY28E EV/CE multiple, projecting a 12-month TP of ₹15,210 per share. At this time, the current valuation does not account for potential value accretion from the wires and cables venture, as the company's progress will be closely monitored before being incorporated into the valuation.",
  "summary": "Choice Institutional Equities",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}